Axios Re:Cap

According to research from the JPMorgan Chase Institute, prior to the coronavirus pandemic, small businesses in the U.S. had an average of less than 15 cash buffer days. Director of business research for the JPMorgan Chase Institute Chris Wheat joins Dan to shift through the data and determine how healthy America’s small businesses were before the coronavirus struck.  PLUS: Private equity goes to court and the year’s biggest retail bankruptcy Learn more about your ad choices. Visit megaphone.fm/adchoices

Jeffrey Katzenberg and Meg Whitman’s new streaming platform Quibi failed to meet incredibly high launch expectations — it recently shared it has 1.3 million active users, way below expectations they set for 7 million users. Dan and Axios media reporter Sara Fischer discuss what went wrong for Quibi and how much of it can and cannot be blamed on coronavirus.  PLUS: Uber eyes a big acquisition and California officials try to make nice with Tesla Learn more about your ad choices. Visit megaphone.fm/adchoices

Weather forecasts draw on data collected by commercial aircraft, and the sudden drop in passenger flights may be impacting meteorology as we head into hurricane season. Washington Post deputy weather editor Andrew Freedman joins Dan to dig into the drop in data and what it could mean for weather forecasting.  PLUS: Congressional Democrats prepare to unveil the next stimulus and how Americans are the next hurdle to reopening America Learn more about your ad choices. Visit megaphone.fm/adchoices

California announced that manufacturing could resume in the state, but Alameda County has issued stay-at-home orders that run through the end of May. This impacts Tesla’s Fremont factory, and the company filed suit against the county to reopen. Dan is joined by TechCrunch senior reporter and editor Kristen Korosec to discuss Elon Musk’s strategy and the implications of this lawsuit.  PLUS: The presidential betting market and why this Thursday matters for pandemic-impaired Learn more about your ad choices. Visit megaphone.fm/adchoices

Between a new postmaster general and an ad blitz by Amazon, CVS and others aimed at rebutting President Trump’s comments that USPS should raise prices, the postal service couldn’t stay out of the news this week. Dan is joined by Washington Post reporter Lisa Rein to unpack a wild week for the beleaguered agency.  PLUS: The worst jobs report in U.S. history and the future of offices Learn more about your ad choices. Visit megaphone.fm/adchoices

Legal Seafoods is one of dozens of companies around the country arguing that COVID-19 has interrupted cash flow to businesses and should be covered by business interruption insurance. Dan is joined by Legal Seafoods CEO Roger Berkowitz to discuss the steps he’s taking to keep his restaurant afloat and how he plans to eventually reopen.  PLUS: The supreme court takes up robocalls and the next big question for small business bailouts Learn more about your ad choices. Visit megaphone.fm/adchoices

A federal judge dismissed the central claim of unequal pay in the lawsuit filed by the U.S. women’s national soccer team against the U.S. Soccer Federation. But the players, including Megan Rapinoe and Alex Morgan, have vowed to appeal. Dan is joined by Axios sports editor Kendall Baker to dig into this lawsuit and the ramifications of this ruling.  PLUS: WeWork’s former CEO files suit and COVID death counts become partisan Learn more about your ad choices. Visit megaphone.fm/adchoices

Hurricane season starts June 1, and according to reporting from Axios national political reporter Jonathan Swan, FEMA is drafting guidance for how to respond to natural disasters and related emergencies in the midst of coronavirus. Dan is joined by Jonathan Swan to discuss what America could face this hurricane season.  PLUS: Amazon’s big loss and the first of what could become a wave of retail bankruptcies Learn more about your ad choices. Visit megaphone.fm/adchoices

The coffers of the PPP program have been replenished with $310 billion, $60 billion which has been allocated to small lenders and community banks, but problems with the program persist. Axios’ markets editor Dion Rabouin and Dan debate whether the program works as intended, where more guidance is needed, and whether this round of funding will help businesses that need the money most.  PLUS: Zoom’s newest headache and a Philadelphia icon heads to Silicon Valley Learn more about your ad choices. Visit megaphone.fm/adchoices

Meat processing plants, which were slow to institute effective protective measures for employees, have started to close amid mass cases of worker illness. Then yesterday President Trump signed an executive order that would reopen them. Dan is joined by Washington Post business of food reporter Laura Reiley to examine the state of our meat supply chain.  PLUS: Jay-Z vs. artificial intelligence and Belgium asks its citizens for the best sort of solidarity Learn more about your ad choices. Visit megaphone.fm/adchoices

With states facing their worst financial crisis since the Great Depression, Senate Majority Leader Mitch McConnell has suggested that he favors states declaring bankruptcy over additional federal aid. Dan is joined by The Atlantic’s David Frum to discuss why creating a bankruptcy process for states appeals to the Republican party.  PLUS: Cannabis in the age of coronavirus and smartphone makers feel the pain Learn more about your ad choices. Visit megaphone.fm/adchoices

States that are starting to reopen parts of their economies are starting from different places. Decisions about whether companies were essential in the first place were made on a state-by-state basis and stores that are closed in one state were open in another. Dan and Axios’ markets reporter Courtenay Brown dig into the questions of who is essential and how that’s being determined.  PLUS: Who is excluded from part two of the small business loan program and Google searches in the age of COVID-19 Learn more about your ad choices. Visit megaphone.fm/adchoices

This week brought 4.4 million unemployment claims, a drop from recent weeks, but still a dire sign for the economy and for working Americans. Dan and New York Times tax and economics reporter Jim Tankersley dig into the latest numbers, the funding small businesses still need to protect jobs and hire back employees, and the layoffs that may still be ahead as this crisis drags out.  PLUS: A big battle over abandoned mergers and robot dogs join the fight against COVID-19 Learn more about your ad choices. Visit megaphone.fm/adchoices

Last week, Instagram founders Kevin Systrom and Mike Krieger launched Rt.live, which tracks the infection rate of COVID-19 in each state. Dan is joined by Kevin Systrom, who discusses what Rt.live can tell us as we navigate the crisis and shares his thoughts on how Silicon Valley has stepped up to offer funding, tools and leadership in the pandemic.  PLUS: The small business loan pool gets refilled and Facebook buys big into India Learn more about your ad choices. Visit megaphone.fm/adchoices

Oil prices suddenly went negative Monday evening, a sign that oil supply is outpacing demand as travel by planes and cars dramatically decreases — but the historic nature of this price drop also speaks volumes to the volatility that coronavirus is introducing to so many markets. Dan is joined by Axios energy reporter Ben Geman to discuss what this means for the oil industry.  PLUS: Facebook blocks COVID truther protests and the next big problem with health care Learn more about your ad choices. Visit megaphone.fm/adchoices